ADVANTAGE Pharmacy Group's Queensland-based wholesale offshoot Arana Pharmacueticals has announced the acquisition of NSW pharmacy wholesaler Nadglen Pharmaceuticals.
The move will allow Advantage to enhance distribution services to an additional 80 pharmacies, enabling the group to service more than 390 outlets across Australia via the Advantage, Arana and Nadglen Pharmaceuticals netowrk.
"As a 100% pharmacist-owned and operated group, we are excited to bring on board the Nadglen team and provide increased efficiencies and better margins for all the pharmacies, we serve," said Advantage Pharmacy Group CEO Steven Kastrinakis.
"With the acquisition our larger scale operations will allow our member pharmacies to continue accessing cost-effective products and services from the Advantage Pharmacy Group's buying and distribution arm," he said.
Nadglen Pharmaceuticals will commence formal trading under the Arana brand from 15 Feb 2019, with Kastrinakis saying the acquisition was part of Advantage's collaborative approach, which is "fundamental to ensure the long-term sustainability and stability of independent pharmacies".
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